Albuquerque
Employment Regains Momentum in Albuquerque
As job creation continues at an above-trend rate, the metro’s relative affordability could prompt migration into the state, bolstering multifamily demand.
Hamilton Zanze Trades ABQ Community
Thayer Manca Residential acquired the 264-unit Class B community, with Zions Bank providing more than $25 million in acquisition financing.
Peak Capital Acquires NM Asset
KeyBank provided the buyer of the 120-unit, Class B multifamily property with more than $11 million in Fannie Mae financing.
Top 10 Multifamily Loans Originated in Albuquerque
Heightened multifamily sales activity in the metro during the first three quarters has led to a boost in lending, with several investors securing Fannie Mae and Freddie Mac financing to cover their acquisitions.
Community for Homeless Proposed in Albuquerque
A local business alliance plans to construct a campus-style property west of the city with space for approximately 170 people.
Albuquerque Housing for Homeless Opens Doors
The developer broke ground on the new 52-unit building at the city’s largest shelter for homeless people, Joy Junction, in May 2017.
NM Development Lands Tax Relief
The Albuquerque City Council approved the metropolitan redevelopment bond to support construction of the 226-unit Broadstone Northpoint Apartments, which broke ground in early 2017.
Titan Development Proposes ABQ Community
The company’s plans call for the addition of 102 market-rate apartments, adding to the Midtown/University submarket’s existing supply of 3,700 units.
On the Market: 4 Interesting Listings for the Week of 9/10
This week’s listings include a box factory that was remodeled into multifamily in 2017, located in Richmond’s Manchester neighborhood, as well as a property in Albuquerque that presents a unique opportunity.
Albuquerque Seeks Solid Ground
A slow population growth, scarcity of new inventory and modest employment gains continue to position the metro’s multifamily market among the weakest in the country.